Old credit card bill (7 yr.s)?

I have on my credit report a old credit card debt (1999) when the statute of limitations for collection were up or almost, the original creditor sold it to a collection agency , and now is making it come up as an unpaid account from 2006, is this a legal loophole to get around the statute of limitations? I put in a dispute with the credit bureau, but it was denied, or came back as legitiment

Old credit card bill (7 yr.s)?

As long as you haven%26#039;t made a payment of any kind, they can%26#039;t do that.

http://www.bankrate.com/brm/news/cc/2004...

http://www.ftc.gov/os/statutes/031224fcr...

First link is a list of statute of limitations on debt plus a link on it to the fair debt collections practice act. Renewing the date of last activity on an account is not legal, unless you actually made payment on the account.

You need to dispute it again with the bureaus. Demand that they confirm the actual date of last payment on the account and report it back to you. Point out their failure to properly abide by the Fair Credit Reporting Act, which is the 2nd link. Read it. At least the dispute parts, and the reporting requirements part. They have a responsibility to get it accurate. They failed.

List the statute numbers. The more you sound like you have a clue, the better it should go.

I%26#039;ve disputed items several times until they were fixed.

Old credit card bill (7 yr.s)?

Refer them to Section 503(a) of the Fair Credit Reporting Act which states that delinquent items which antedate the credit report by more than seven years can NOT be included in the credit report.

The measurement date starts from the date of 1st delinquency.

Good luck.

Old credit card bill (7 yr.s)?

yep they can do it and it wont get removed from your credit report till u pay it in full..

Then its 7 years from the date u paid in full..

Old credit card bill (7 yr.s)?

It%26#039;s 2007, it shouldn%26#039;t even be on any credit reports since the debt is from 1999. The collection agency is re-aging the account, it%26#039;s illegal and you can hold them accountable. In your case, the collection agency is providing a false first delinquency date not only for credit bureau reporting purposes but also to make it seem like this debt is within sol. It%26#039;s not a legal loophole, they have no right to do it! Even with the re-aging, are you sure the sol isn%26#039;t up yet? Some people confuse the reporting period for the sol. In my state, credit card debts, which are open end accounts, have a 4 year sol, but it can still be reported to the credit bureau for 3 more years.

It%26#039;s time for you to send a validation of debt letter to the collection agency by usps registered certified return mail and let them know that you are aware they are re-aging the account and it%26#039;s illegal. Don%26#039;t be surprised if they ignore your validation request or send you documentation that does not prove the debt is yours or that it isn%26#039;t over seven years old for credit reporting purposes. You have to give the collection agency 30 days to respond to your validation request. If they don%26#039;t ever respond, send a copy of the green return receipt to the credit bureau, let them know the collection agency didn%26#039;t respond to your vod letter, and you as the consumer have the right to request the credit bureau to send the name of the person who verified the debt as accurate at the CA, the number that person was reached at and most importantly documentation the credit bureau recieved that proves the account belongs to you and is within the 7 year reporting period. And ask the credit bureau to provide the month and year of the obsolescence date based on FCRA compliance for the account. This refers to the 7 year reporting period.

Credit bureaus recieve many dispute requests. They don%26#039;t actually conduct an investigation. They simply call the company and all the person on the other end has to do is say yes the entry is correct. But when you ask the credit bureau to provide the evidence they received during the investigation, they have no choice but to provide that information to you or delete the entry because then they are liable for FCRA violations for posting unvalidated information on consumer%26#039;s credit report. Try to find a consumer relations address to send your information request to, if you send it to the disputes address, some button pusher is likely just to do the same routine of calling the collection agency and the collection agent gives the same old lie.

Question, what credit bureau is this debt reported to? Both TransUnion and Experian (if you go online) prints the time the account is scheduled to be removed from your credit report. Equifax does it differently. For Equifax, the consumer has to calculate the 7 year reporting period from the printed date of last activity. An example would be a delinquent Capital One account would have DOLA as 12/1999. The consumer would know 7 years from 12/1999 means the account is set to be removed from their report 12/2006. I have a problem with the way Equifax does it, because it should be when the original delinquency occurred, not the date of last activity.